Government to channel major share of Qatar deal proceeds toward debt reduction: Finance Minister
Finance Minister Ahmed Kouchouk affirmed that the government remains committed to directing a substantial portion of proceeds from major investment deals toward reducing public debt. He noted that Egypt has successfully cut budget-sector debt by about 10% of GDP over
Second package of tax facilitation measures to be launched this November: Finance Minister
Minister of Finance Ahmed Kouchouk announced that the government will launch the second package of tax facilitation measures in November 2025, building on progress achieved in strengthening the “partnership and certainty” framework with investors. He noted that the government implemented
Grand Egyptian Museum to boost tourism, help attract 30 million visitors by 2030: Al-Mashat
The Grand Egyptian Museum (GEM) is a strong addition to cultural tourism in Egypt and will help the country achieve its goal of attracting 30 million tourists by 2030, Minister of Planning Rania Al-Mashat has said. In an interview with
Polish investments in Egypt surpass $1.7bn, driven by green ammonia, furniture, and silo projects
Polish investments in Egypt have recorded remarkable growth in recent years, reaching over $1.7bn, supported by several major projects led by leading Polish companies. Among the most prominent are Hynfra’s $1.6bn green ammonia production project, Padma’s €70m investment in furniture
Finance Ministry, MSMEDA implement ambitious plan to support entrepreneurs: Rahmy
Basil Rahmy, CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), affirmed the strong support provided by the Ministry of Finance to the small and medium enterprise (SME) sector through the General Authority for Government Services, and its
Suez Canal sees largest container ship in two years as traffic returns
The Suez Canal on Saturday witnessed the passage of the CMA CGM BENJAMIN FRANKLIN, the largest container ship to transit the waterway in two years, in what the canal authority’s chairperson described as a positive sign of traffic returning to
Egypt, Russia, EU coordinate on Gaza peace implementation, Sudan crisis
Egyptian Foreign Minister Badr Abdelatty on Friday held separate phone calls with his Russian counterpart, Sergey Lavrov, and the European Union’s foreign policy chief, Kaja Kallas, to discuss the implementation of the Gaza peace deal and the escalating crisis in
NFAs in Egypt’s banking sector rise by EGP 115.2bn during FY 2024/25
The Central Bank of Egypt (CBE) has revealed that net foreign assets (NFAs) within the banking system rose by the equivalent of EGP 115.2bn during the fiscal year (FY) 2024/2025, recording a growth rate of 18.4%. This increase resulted from
Egypt’s government complaints system received 193,000 requests in October
Egypt’s unified government complaints system received 193,000 complaints, requests, and inquiries in October, with ministries handling 62% of the total, the prime minister’s office said. Prime Minister Mostafa Madbouly reviewed a detailed report on the system’s performance and praised the
Egypt launches world’s largest palm farm in Toshka, Al-Owainat with 2.3 million trees
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir has stated that the 8th International Egyptian Dates Festival is receiving strong state support, reflecting Egypt’s focus on developing promising industrial and export sectors. The festival